Cognex Co. (NASDAQ:CGNX) Receives $49.62 Consensus Price Target from Analysts

Shares of Cognex Co. (NASDAQ:CGNX) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $49.17.

CGNX has been the subject of several recent research reports. Robert W. Baird reduced their price target on Cognex from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Truist Financial decreased their price target on shares of Cognex from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. DA Davidson cut their price objective on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. StockNews.com raised shares of Cognex from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Vertical Research began coverage on shares of Cognex in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 target price for the company.

Insider Activity at Cognex

In related news, Director Dianne M. Parrotte purchased 2,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $38.62 per share, with a total value of $77,240.00. Following the transaction, the director now owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Dennis Fehr acquired 6,570 shares of the stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $38.04 per share, for a total transaction of $249,922.80. Following the transaction, the chief financial officer now owns 6,570 shares in the company, valued at approximately $249,922.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dianne M. Parrotte acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $38.62 per share, for a total transaction of $77,240.00. Following the completion of the acquisition, the director now owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV increased its stake in Cognex by 94.4% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 286 shares in the last quarter. HHM Wealth Advisors LLC increased its position in shares of Cognex by 19.8% during the second quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock worth $85,000 after purchasing an additional 301 shares in the last quarter. Fifth Third Bancorp raised its stake in Cognex by 11.3% in the 2nd quarter. Fifth Third Bancorp now owns 3,829 shares of the scientific and technical instruments company’s stock valued at $179,000 after purchasing an additional 390 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in Cognex by 4.2% in the 1st quarter. Park Avenue Securities LLC now owns 11,514 shares of the scientific and technical instruments company’s stock valued at $488,000 after purchasing an additional 468 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Cognex by 18.7% during the 1st quarter. Covestor Ltd now owns 2,977 shares of the scientific and technical instruments company’s stock worth $126,000 after purchasing an additional 469 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Stock Performance

NASDAQ:CGNX opened at $39.46 on Tuesday. The firm has a 50-day simple moving average of $39.47 and a 200-day simple moving average of $43.15. Cognex has a one year low of $34.28 and a one year high of $53.13. The firm has a market cap of $6.77 billion, a P/E ratio of 68.03 and a beta of 1.41.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $239.00 million during the quarter, compared to the consensus estimate of $240.33 million. Cognex had a net margin of 9.29% and a return on equity of 4.97%. Cognex’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. On average, research analysts predict that Cognex will post 0.44 EPS for the current fiscal year.

Cognex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.075 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.76%. Cognex’s dividend payout ratio is currently 51.72%.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.